Over the course of the past few days, a number of penny stocks have come into the news cycle for one reason or another. This article is going to provide you with a quick look into some of the penny stocks which have come onto the radars of investors. Here is a closer look at four such penny stock companies.
Dalrada Financial Corp (OTC:DFCO) – The company is regarded as an innovator that works on takes on global, multi-disciplinary challenges in the fields of advanced technology, clean energy and precision manufacturing. On Thursday, the company came into the news cycle after it announced that it had been working on its restructuring efforts to cut down its overall expenses by as much as $3 million a year.
Dalrada Financial Corp hopes to achieve that through a better definition of leadership roles and streamlining of operations. The company noted that it expected its revenues to go up in the first quarter of 2024 following the restructuring and hit profitability by the fourth quarter of 2024. Dalrada Financial also revealed that such a move would also lead to long-term growth and profitability.
The announcement came not long after the company had revealed that it would work on consolidating specific sectors and work on the development and launch of new climate technology solutions.
Anonymous Intelligence Company Inc (OTC: ANICF) – It is an innovative company involved in computational intelligence, data technology, and decentralized networks. Anonymous Intelligence Company Inc is focused on the development of its suite of privacy and artificial intelligence-powered products meant to bring about higher confidence from consumers and enterprises in technologies.
The company announced yesterday that Haller.ai Technologies, its acquisition target and an artificial intelligence-backed Software as a Service platform, had started the onboarding process of five enterprise clients onto its Alpha Program. Additionally, it was announced that Haller.ai was also going to launch its full public beta by September 15 this year. It was noted that it was a major milestone for both Haller.ai.
Latest forecasts from IDC have revealed that the spending on artificial intelligence-powered hardware, software, and services would double from 2023 through to 2026. In 2023 the spending is expected to hit $154 billion and in 2026 it could almost double to $300 billion-plus.
Tectonic Metals Inc (OTC:TETOF) – The company could be one to watch out for after it announced yesterday that it had launched the second tranche of the financing with Crescent Capital that it had announced previously on May 9, 2023. That would see the commitment to further investment to the tune of C$2 million before the beginning of the Flat Drill Program from Tectonic Metals Inc.
The founder and Chief Executive Officer of the company noted that Tectonic was making a strong commitment toward the initial drilling program at the Flat Gold Project. The first tranche of the offering had been completed on June 26, 2023, when the company raised $3346785.
NEO Battery Materials Ltd (OTC: NBMFF) – The company is a developer of low-cost silicon anode materials that power fast charging and longer-running lithium-ion batteries. Yesterday, NEO Battery Materials Ltd announced its strategy for expansion in Canada through the appointment of Dr. Luc L Duchesne as the Vice President of Government Relations.
He would be responsible for securing non-dilutive funding activities and for securing government grants. The company would make its expansion in North America through the establishment of a research and development center in Ontario in August. The center would produce the company’s proprietary silicon anode materials named NBMSiDE.